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'bitcoin'
Trump Media announces approximately $2.5 Billion 'Bitcoin Treasury' deal
SUMMARY
Trump Media & Technology Group announced a $2.5 billion deal to create a "Bitcoin treasury." This includes $1.5 billion in common stock and $1 billion in convertible notes. The offering is targeted to close on May 29, 2025.
CEO Devin Nunes emphasized the importance of Bitcoin for financial freedom. He stated, “We view Bitcoin as an apex instrument of financial freedom.” The treasury aims to protect the company from financial discrimination and enhance its business strategies.
Custody for the Bitcoin assets will be provided by Crypto.com and Anchorage Digital. The deal marks a significant step in Trump Media's expansion plans.
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